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20121201
20121231
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FBC 6
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Search Results 0 to 18 of about 19 (some duplicates have been removed)
FOX Business
Dec 11, 2012 11:00am EST
. they then funneled hundreds of millions of dollars of transactions through the united states through hsbc there. be evading u.s. prohibition on such transactions by disguising the force of the fund so payments could go for a. hsbc has admitted its guilt to the four count information filed today which sets forth two violations of the bank secrecy act, violation of the international emergency economic powers act and violation of the trading with the enemy act. as part of its resolution of these charges hsbc has agreed $1,256,000,000, the largest amount ever by a financial institution for compliance failure. they also agreed to pay civil penalties of $665 million to resolve parallel regulatory actions brought by the office of the comptroller of currency and the federal reserve bank for a total recovery of over $1.9 billion. the resolution also requires hsbc to implement a series of compliance reforms that we expect to become a model in the financial industry. today's resolution involves multiple agencies and the culmination of years of investigation and analysis. the bank secrecy act investigation
FOX Business
Dec 11, 2012 10:00pm EST
, middle east terrorists, african dictators all among hsbc's clientele, and no one is going to jail? why not? legal experts join us here next >> british banking giant, hsbc agreed to pay a record dollars 1.9 billion to settle allegations it landerred money from mexican drug lords, and sanctions transactions from iran illegally. lenny brewer said that the scale of hsbc's operation was stunning. >> at least one occasion, hsbc instructed a bank in iran on how to format payment messages so that transactions would not be blocked or rejected by the united states. lou: brewer however also defended the decision to not prosecute the bank, he said. if authorities pressed charges hsbc would almost certainly have lost its banks license here in this country which would have cost thousands of jobs, joining us now to assess this, and more, former prosecutor alease wheel, and artie idala . is -- where is the outrage that lenny brewer, already -- certainly implicated in the "fast and furious" scandal is standing there, as spokesman u.s. justice department saying they are not going to prosecute. >> you se
FOX Business
Dec 11, 2012 1:00pm EST
a pro. melissa: breaking news right now. the justice department announcing hsbc will pay a whopping $1.9 billion to settle a money-laundering probe. o'connell charges be filed? adam shapiro in the news from following this story so closely and has more now. adam. >> we're all getting caught up in $1.9 billion historic fine, but not one person from hsbc will be prosecuted for what the assistant u.s. attorney general says was blatant and egregious violations of u.s. law. it is worse than that. they went on his hsbc work with governments to break the law, foreign governments with terrorists they threatened by their actions the lives of u.s. citizens. saying at one point, and this is a quote, he says i don't think anyone is alleging hsbc was the mastermind of many of these schemes. rather the compliance was so lax that it was allowed to happen. listen to what he said at the beginning of the conference about how hsbc helped governments rake the law. in his own words. >> on at least one occasion hsbc instructed a bank in iran how to format payment messages so that the transactions would not b
FOX Business
Dec 11, 2012 7:00pm EST
, mexican drug cartels, middle east terrorists, african dictators all among hsbc's clientele, and no one is going to jail? why not? legal experts join us here next. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which inclus investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-sizprice. this is awesome. [ male annncer ] yes, it is, business pro. yes, it is. go national. go like a pro. >> british banking giant, hsbc agreed to pay a record dollars 1.9 billion to settle allegations it landerred money from mexican drug lords, and sanctions transactions from iran illegally. l
FOX News
Dec 11, 2012 12:00pm PST
from lansing. not one worker from europe's biggest bank, hsbc, will far us a criminal charge after they were accuses of failing to guard against terrorists, tax cheat and drug cartels but agreed to pay a record $1.9 billion fine to settle the case. that probably won't hurt this bank at all. last quarter, they reported $2.5 billion in net profit. according to the treasury, the failure to police transactions allowed hundreds of millions of dollars in drug money from mexican cartels to flow into the united states. the feds report the bank broke finance laws when they did business with iran and libya and cuba and others. under their deem with the feds, the bank will pay the record fine, change some policies, but not one bank employee will ever face criminal prosecution. the prosecutors say department of justice officials wanted to bring criminal charges but decided not to not because of a lack evidence but because it would put the future of the largest banks at risk. think of that. not because they didn't have the goods. they were worried about the banking system. this says clearly it
FOX News
Dec 11, 2012 4:00pm PST
. thanks. a stunning admission from one of the biggest banks in the world. the bigs at hsbc admit that they laundered money for drug cartels. they allowed forbidden transactions with countries including libya and iran. but nobody is going to prison. instead the bank executives are just saying we are sorry and paying a fine. the justice department announced agreement with hsbc the biggest bank in all of europe. as part of of the deal hsbc agrees to pay $1.9 billion in fines. a lot of money certainly. but for this bank it's the equivalent of roughly seven weeks of profits. in exchange, these are among the charges that will now disappear. laundering more than $880 million in drug money. and allowing $660 million in prohibited transactions from countries including libya, cuba, burma, sudan and iran. federal prosecutors say the bankers didn't just look the other way, they actually went a step further. one occasion hsbc instructed a bank in iran on how to format payment messages so that the transactions would not be blocked or rejected by the united states. >> shepard: in other words, t
ABC
Dec 12, 2012 1:40am PST
hsbc. the government says the british bank did business with drug lords and terrorists yet faces no criminal charges. brian ross reports. >> reporter: when the most ruthless of the mexican drug cartels wanted to hide their money, they went to hsbc. so did hamas and al qaeda, along with iran and other countries and the u.s. financial blacklist. all customers of a bank known well around the word. but given much less prominence in the announcement was a deferred prosecution agreement with hsbc, meaning there will be no prosecution of the bank or its top executives. despite more than a decade of dealing with criminals and terrorists. >> this is a very just, very real and very powerful result. >> you don't think the bank got off easy? >> no, and i don't think the bank thinks it got off easy. >> reporter: but with $38 billion in profits over just the last two years alone, hsbc can easily afford its $1.92 billion payment. >> this is a signal to other banks that if you do this kind of stuff, you'll get a parking ticket, you'll pay the fine and move on. >> reporter: since this summer, whe
CNN
Dec 11, 2012 6:00am PST
.9 billion, that's how much global banking giant hsbc is paying the united states government to resolve accusations of money laundering for mexican drug cartels and terror-linked groups in saudi arabia. business correspondent christine romans joins us now from new york, and it's a serious allegation here. >> it really is and the group hsbc, the uk's largest bank wants to put this behind it, trying to settle the serious allegations, $1.92 billion will be what they will pay the u.s. government, there will be a press conference later today, the justice department, the manhattan d.a. and others to put this to rest. banks operating in the u.s. have an obligation to know their customer and abide by u.s. laws and u.s. sanctions against some pretty bad characters and hsbc apparently didn't do that. that's the allegation of the united states government, helping transfer money for drug cart cartels, for terrorist groups, for countries we're not supposed to be doing business with overall. these sanctions around libya, myanmar, syria and mexican cartels, this is what hsbc says, wants to put the who
FOX Business
Dec 12, 2012 9:00pm EST
john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terroris. mexican drug cartels, african dictators, all of the really nice people tht they had no idea where problem. by the way, nobody going to jail will be taking that up. we will have coming up next. tracy: all right, "lou dobbs tonight" at 7:00 p.m. and :00 p.m. eastern. when we come back, how to beat the street. covering your assets with tips with picking winners on wall street. stay with us .racy: earnings season kicks off tracy: where has the time gone? earnings season kicks off in less than a month from now. here with advice on how to pick stocks for earnings, we have the author of the options handbook. before we get intoall that, why is all this uncertainty going on? we have to talk about this market has been on a tear. >> there is a big economy. there is almost and even divide in both sies of wall street. once i think that it's going to be a horrible year. the other side thinks that this is going to be an
CNBC
Dec 20, 2012 4:00am EST
's biggest bank, hsbc, bank santander and international finance corporation are among them. it is layer for a japanese bank to lead such a large, financial deal especially when there isn't any local corporate or government involvement. this project could mark a milestone for japanese banks in their attempt to create a bigger presence in the global market. the plant will be built by braskan and mexico's group odessa. it's due to start operations by 2015. that's all from nikkei business report. back to you, kelly. >> thanks very much for that. >>> now, plans for the london and moscow listings suffered a blow this year when goldman sachs withdrew as a lead individualser on the ipo of alleged corporate governance issues. in a cnbc global exclusive, geoff cutmore asked alisher usmanov if events in october hurt his relationships. >> translator: i have always respected lloyd blankfein. goldman sachs is a company with which we are working with, the company that i control is working with. that is to say, i believe we will continue to work with gold pan sacks in the future. there is no doubt in m
FOX Business
Dec 12, 2012 6:00pm EST
and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terrorists. mexican drug cartels, african dictators, all of the really nice people that they had no idea where problem. by the way, nobody going to jail will be taking that up. we will have coming up next. tracy: all right, "lou dobbs tonight" at 7:00 p.m. and 10:00 p.m. eastern. when we come back, how to beat the street. covering your assets with tips with picking winners on wall street. stay with us you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. tracy: earnings season kicks off less than a month from now. coming up next, we will tell you how to beat the street who. tracy: where has the time gone? earnings season kicks off in less than a month from now. he
LINKTV
Dec 31, 2012 8:00am PST
and new york state prosecutors have unveiled their $1.9 billion settlement with the banking giant hsbc for a massive money laundering scheme used by drug cartels and other illegal groups. >> you can do real time in jail and therefore doing ridiculous offenses, or taking it up two subway seats. people go to jail all the time in this country. for having a marijuana stem in your pocket. there are 50,000 marijuana- related cases in america alone every year. and here we have a bank money laundered billions of dollars and they cannot find anyone to put in jail. >> i had a chance to speak directly to leonard peltier when he called into a news conference organized by his lawyers and pete seeger. >> what would you do if you were free? >> probably go home on house arrest. that is the only thing i could expect. i do not think obama would do what bill clinton did. he is not going to give any clemencies until his last year. it is not going to happen. george bush signed the second chance act, which is house arrest, so we are pushing for that. if i do get house arrest, at least i can get some medical
FOX News
Dec 11, 2012 8:00am PST
is hsbc, apparently avoiding a criminal indictment but only because filing criminal charges could have destabilized the world's financial system. instead, the bank pay a record penalty. nearly $2 billion this that settlement, and as rick was just mentioning, the bank is facing a slew of accusations including that it transferred funds to mexican drug cartels and also transferred funds to nations like iran, evading international sanctions. charlie gasparino has more from the fox business network. charlie, is this unique only to hsbc, or is in the first domino to fall here? >> well, i mean, there may be other banks, but it follows a pattern that the justice department has used since arthur anderson following the enron scandal. they didn't want to put any more big companies out of business, so they go into these deferred prosecution agreements, today hit the bank with a big fine and then today kind of move on. what's kind of like -- what's not good about this is that if you think about it, shareholders are suffering when you had probably individual employees who committed possible crimes h
FOX News
Dec 11, 2012 3:00am PST
on to the head and died from his injuries. it is it the largest fine paid by a bank. hsbc agreed to pay 1.89 billion to settle a money laundering case. it is for nations like iran and enabled mexican drug cartels to move money loolly through the american subsidaries. are you ready for some country? ♪ ♪ wrecked my heart. ♪ i should never let go. ♪ the one that good away. >> gretchen: the american country award kicked off in vegas. luke bryant took home nine awards including artist of the year. >> country music. we get to do what we love and for people who are honest and hard working and beautiful people thoo support great music. >> he went on to do the right thing thanking his wife and band and all of the fans and those are your headlines. >> steve: very nice. michigan is poised later today to pass landmark legislation. big labor is furous and marshalling the troops. if you were at the afo head quart ares in michigan, you would have seen cars with license plates from georgia, minnesota and ohio and illinois and they are angry that the people of the great state of the michigan will
ABC
Dec 11, 2012 1:40am PST
will be finalized involving hsbc. the bank is settling a case brought by u.s. government and also authorities here in new york hsbc will pay $1.9 billion to settle accusations it illegally transferred money on behalf of sanctioned nations, including iran and help mexican drug cartels launder monday. >>> a florida woman has been found guilty of first degree murder for shooting a lottery winner in a plot to get his money. a jury in tampa convicted her of the 2009 murder of abraham shakespeare who had won $17 million. he was found buried in concrete in the backyard of her boyfriend. the judge called her cold, calculating, and cruel. >>> we now know the identity of the second lucky winner of that record powerball jackpot. matthew goode had tried to remain anonymous in claiming his share of the $587 million prize. yeah, that didn't happen. it was only a matter of time before his name was discovered. he is originally from pennsylvania, but moved to phoenix area last year. he took a one-time payout of $192 million, telling officials he was worried about paying higher taxes next year because of the fiscal
FOX News
Dec 11, 2012 6:00am PST
that the hsbc bank intentionally allowed prohibited transactions with iran, libya, sudan, and berm a, this is the u.s. department of justice that actually filed these felony criminal charges against the bank. it was widely expected precursor to a deferred prosecution agreement under which the bank would pay $1.9 billion to resolve money laundering charges. some background on a few of these countries designated state sponsors terrorism. >> this morning the number one story days this live action that is playing out in lansing, michigan. you see union supporters chanting an in the say the capitol, so reminiscent of what we saw in wisconsin as they battled the unions in their state. michigan has long been a very solid baston of union support and companies with all the union automakers having a presence there. this is a little bit of the sentiment being expressed by the union supporters on the ground there. >> how can you protect us was a union and protect our collective bargaining rights. it will erode what we worked very hard to achieve if it goes through. >> i'm all for right to work.
MSNBC
Dec 11, 2012 3:00am PST
of papers. "san francisco chronicle." $1.9 billion settlement with british giant hsbc. they were charged with enabling drug cartels to launder money through the american financial system. >> is that bad? >> billions have dollars on behalf of iran. >> they keep moving the lines. >> i wish the regulators would pass a freakin law and stick with it. >> put your earpiece in so they can tell you to be quiet. >> to laund-if you can't laundey through mexican cartels, what can you do these days? >> sharing with marketers and other third parties without notifying parents. >> this is just not good. >> only 20% of children's apps provide disclosures about that data collection. >> this is the cutest thing. the pope is tweeting. "usa today," pope benedict will make history tomorrow when he takes to twitter to answer his pari parishioner's questions. he already has 900,000 followers in eight languages on his handle at pontiff-x. >> he follows me. >> 900,000 for the pope? beaver's got like 25 million. you would think the pope would be -- >> get off his back! >> i want to do that at some point. i know we
Search Results 0 to 18 of about 19 (some duplicates have been removed)